Feeds

Espotting, FindWhat.com sign new merger pact

Revalues merged firm at $170m

  • alert
  • submit to reddit

Boost IT visibility and business value

Paid-for search outfit Espotting has signed an amended merger agreement with FindWhat.com. The new deal values Espotting at $170 million, up $7 million from the original deal.

Under the terms of the new agreement Espotting stockholders will receive seven million shares of FindWhat.com common stock and approximately $20 million in cash. The exact amount of cash may vary, based upon Espotting’s net assets on the closing date.

In addition, the deal now includes the issue of options and warrants to buy an estimated 800,000 shares of FindWhat.com common stock.

Once the merger is completed, the combined company would have approximately 33.5 million shares outstanding on a fully diluted basis. Of these, FindWhat.com's stockholders, employees, and affiliates will own approximately 25.7 million shares, and Espotting's stockholders, employees, and affiliates will own approximately 7.8 million shares.

The company would not disclose the reasons for the renegotiation of the deal. ®

Related Stories

FindWhat.Com finds $8m for Miva
FindWhat.com buys Espotting for $163m
Ask Jeeves: Why did you junk Espotting for Google?

The Essential Guide to IT Transformation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.